By Simon Ebegbulem

BENIN— Chairman, House of Representatives Committee on Nigerian Content, Mr. Asita Honourable, has charged the Nigerian Content Development and Monitoring Board, NCDMB, to ensure the implementation of the Act which ensures support for wholly indigenous companies to invest in the country’s oil and gas sector.

He spoke while inspecting the budding industrial park meant to produce pipes for the oil and gas industry, which is being constructed by an indigenous company, Technova Nigeria, in Ologbo, Edo State.

The lawmaker stressed the need to give opportunities to young Nigerians, who have invested in the oil and gas sector to stop importation of some of these products.

He said: “One of the reasons why the Nigerian Content Act was promulgated is to encourage businesses such as this. I understand that through the one percent deduction made to the fund from all upstream contracts, the Fund has been able to generate well over $450 million.

“I understand that part of the intervention the board makes is to encourage the training of Nigerians in different aspects of Industry practice.

“I, therefore, would be happy if the board will initiate partnerships with entities like Technova to fund certain aspect of this project that will enable the board use it as a training facility for young Nigerians.”

Chief Executive Officer of Technova, Mr. Norbert Oleah, commended the friendly relationship they had enjoyed with their host community.